Avtandil

Avtandil is 45 years old. He lives in Martvili District, West Georgia. Avtandil has a large family: a wife, 2 children and parents, who are provided with a retirement pension. He requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of income for the family is from their agricultural activities. In particular, they have 2 milk cows whose milk is used in cheese production. Besides, Avtandil has a plot of land where 300 nut trees are growing. Harvested nuts and cheese are sold locally in an open market at a good price. It is hardly enough for food for such a large family. According to Credo estimations, the family belongs to the subsistence poor category.

Avtandil requested a loan from Credo to start up a family business. His loan request was approved within the frame of new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions for the country's rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

As their existing income isn’t enough for the family, and their living conditions are poor, Avtandil decided to work as a taxi driver with his own car. Avtandil needs the requested credit for repairing his own car. Besides, he will purchase 2 pigs and expand his livestock. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.